Pursuant to Paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of KSL is pleased to announce that KSL has on 18 August 2014 acquired two (2) ordinary shares of RM1.00 each in VIP Beyond Sdn Bhd, representing 100% of the total issued and paid-up share capital of VIP Beyond Sdn Bhd (“Acquisition”) from Cik Fatimah Binti Sulaiman (1 ordinary share) and Cik Shairah Begum Binti Kadar Bashah (1 ordinary share) for a total consideration of RM2.00.

Following the Acquisition, VIP Beyond Sdn Bhd became a wholly-owned subsidiary of KSL.

VIP Beyond Sdn Bhd was incorporated in Malaysia on 21 July 2014 and the current issued and paid-up share capital of VIP Beyond Sdn Bhd is RM2.00 divided into two (2) ordinary shares of RM1.00 each. VIP Beyond Sdn Bhd has not commenced business since its incorporation.
The intended principal activity of VIP Beyond Sdn Bhd is property development.

None of the Directors and/or major shareholders and/or persons connected with them have any interest, direct or indirect, in the Acquisition.

The above Acquisition does not have any material effect on the issued and paid-up share capital of KSL and has no material effect on the earnings and net assets of KSL Group for the financial year ending 31 December 2014.

This announcement is dated 18 August 2014.